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post #1 of 15 (permalink) Old 06-04-2009, 10:33 AM Thread Starter
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Tax annoyances

It just makes you all warm and fuzzy when you get a letter from the IRS saying they think you screwed up your taxes and owe them $2,500 in back taxes and interest.

Turns out no, I misreported $80 (I didn't receive a 1099-Int and a 1099-D), so I under paid by $12, checks on the way.

What it looks like is they had a newbie keying the information from my return (filed on paper, not hand written, printed so legibility isn't an issue here). What gets me is it wasn't simply missing all of the information from my Schedule D continuation sheet for long term capitol gains, it was missing SOME, not ALL, of the short term capitol gains information from my Schedule D (not the continuation sheet, the Schedule D itself). Everything else from my Schedule D they got.

Oh, also some how they though my mortgage interest was $115 instead of $1150. Again I think someone missed a digit when keying something.

Really pissing annoying and talk about high blood pressure getting that letter and figuring out what THEY screwed up (okay, technically I did as well, but I never received the forms for the amount that I had not reported and we are talking $12 owed, not $2,500 like they claim). At least it is relatively easy to resolve mailing them the information showing why they are wrong. Or at least I hope like hell it proves to be easy (IE they actually read the bloody forms this time).

Two things piss me off the most though.

1) this was my 2007 return and I just got the notice. I get things can take awhile to get reported to the IRS from businesses...but it doesn't take a 18 months to report them except in very, very rare cases (the deadline just like the tax deadline is April 15th and there are penalties to business for reporting information late).

2) 30 day deadline. I get there has to be some sort of deadline and 90 or 120 days or whatever is ridiculous, but a 45 day deadline wouldn't be unresonable. What if I had been on vacation or away on business for a couple of weeks? I might get back and only have 5-10 business days to gather all of my evidence (which who knows, I might have to call or write to a business to get a copy of a 1099 or something) and mail it to them. I know they offer extensions, but not without the interest piling up and possible penalties even though you get an extension. Sure it has taken me only a day to get everything together, but I can see how it could take an average person several days or even several weeks to figure it all out.
-Matt
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post #2 of 15 (permalink) Old 06-04-2009, 10:40 AM
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Re: Tax annoyances

The tax system is so broken, it's not even funny. Plus, you have to remember the caliber of person it usually takes to work an entry level or remedial job with the IRS. Hell, even most of their revenue agents are more towards the short bus side.

My dad was a special agent for the IRS for 30 years. He's the biggest critic of their bureaucracy.
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post #3 of 15 (permalink) Old 06-04-2009, 11:20 AM Thread Starter
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Re: Tax annoyances

[quote author=fatabbot link=topic=147002.msg3160771#msg3160771 date=1244122832]
The tax system is so broken, it's not even funny. Plus, you have to remember the caliber of person it usually takes to work an entry level or remedial job with the IRS. Hell, even most of their revenue agents are more towards the short bus side.

My dad was a special agent for the IRS for 30 years. He's the biggest critic of their bureaucracy.
[/quote]

Yeah I know what its like (to a degree) since I work for a sister agency in an at least tangentially related field (wage reporting, I just do IT work though not data entry or auditing). So I understand it a bit, but still REALLY fricken annoying. The least the IRS could do is creat a slightly less 'intimidating' letter that has a bit better explination in it of what you should do and include. I mean the letter basicaly starts out with "WE THINK YOU LIED! PAY US NOW OR ELSE!"
-Matt
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post #4 of 15 (permalink) Old 06-04-2009, 11:23 AM
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Re: Tax annoyances

[quote author=azazel1024 link=topic=147002.msg3160842#msg3160842 date=1244125221]
Yeah I know what its like (to a degree) since I work for a sister agency in an at least tangentially related field (wage reporting, I just do IT work though not data entry or auditing). So I understand it a bit, but still REALLY fricken annoying. The least the IRS could do is creat a slightly less 'intimidating' letter that has a bit better explination in it of what you should do and include. I mean the letter basicaly starts out with "WE THINK YOU LIED! PAY US NOW OR ELSE!"
-Matt
[/quote]

LOL, sounds like the letters my clients get from the IRS. Although, the agents that handle the more complicated issues are usually much more professional.

The DOL/EBSA is much, much worse in their scare tactics, audits, etc.
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post #5 of 15 (permalink) Old 06-04-2009, 12:13 PM
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Re: Tax annoyances

Boo IRS, Boo Income/Capital Gains/etc Taxes.

GO FAIR TAX!


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post #6 of 15 (permalink) Old 06-04-2009, 12:25 PM Thread Starter
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Re: Tax annoyances

My new motto, "The Tax man commeth and he screwith up"
-Matt
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post #7 of 15 (permalink) Old 06-04-2009, 12:26 PM
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Re: Tax annoyances

2008 I bought my first house, $7500, just for being a first time home buyer was nice, and I don't mind paying it back over time. It paid for my turbo kit and some home improvements and let plenty to bank. But I just got laid off. Is that irony. I don't mind income tax, but what I hear about social security kinda pisses me off.

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post #8 of 15 (permalink) Old 06-04-2009, 12:32 PM
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Re: Tax annoyances

Sucks about getting laid off, good luck.

I still can't believe that they changed the tax credit from a 0% loan to a handout, and now you can even use it as a down payment instead of needing the 3-5% minimum down out of your own pocket. We repeat the same mistakes over and over.

Guess it's like alcoholism. Cure the hangover with the substance that caused it.
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post #9 of 15 (permalink) Old 06-04-2009, 12:35 PM
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Re: Tax annoyances

I got a nice tax brake on all the money I lost in the market too, It pretty much ended up with the government owing me money, even tho some stock did make a decent profit. Well that how my tax prepare described it to me.

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post #10 of 15 (permalink) Old 06-04-2009, 01:12 PM
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Re: Tax annoyances

[quote author=fatabbot link=topic=147002.msg3160993#msg3160993 date=1244129555]
Sucks about getting laid off, good luck.

I still can't believe that they changed the tax credit from a 0% loan to a handout, and now you can even use it as a down payment instead of needing the 3-5% minimum down out of your own pocket. We repeat the same mistakes over and over.

Guess it's like alcoholism. Cure the hangover with the substance that caused it.
[/quote]

What do you mean by a 0% loan??? Are you saying at one time you could refinance for 0%? :shock:

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